N.Y. Insurance Law § 1507: Management of controlled insurers

§ 1507. Management of controlled insurers. (a) Notwithstanding the

control of an authorized insurer by any person, the insurer's officers

and directors shall not thereby be relieved of any obligation or

liability to which they would otherwise be subject by law, and the

insurer shall be managed so as to assure its separate operating identity

consistent with this chapter.

(b) Nothing herein shall preclude an authorized insurer from having or

sharing a common management or cooperative or joint use of personnel,

property or services with one or more other persons under arrangements

meeting the standards of subsection (a) of section one thousand five

hundred five of this article.